,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cjdg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #b1 #bjac ,mr4 
,pocan introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,education & !
 ,work=ce  ,a ,,bill  ,to au?orize      
borr[]s ( loans "u ! ,william ,d4 ,=d   
,f$]al ,direct ,loan ,program to modify 
! int]e/ rate ( su* loans to be equal to
 ! int]e/ rate = su* loans at ! "t (    
modification4  #a4 ,borr[] modification 
( int]e/ rates "u ! ,william ,d4 ,=d    
,f$]al ,direct ,loan ,program ,section  
#dee7;b7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajhg;e7b77 is     
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#aj7 ,borr[] modification ( 
int]e/ rate  7,a7 ,modification ,not)/&+
 ! prec$+ p>agraphs ( ?is subsection1 ! 
borr[] ( a ,f$]al ,direct ,/af=d ,loan1 
a ,f$]al ,direct ,unsubsidiz$ ,/af=d    
,loan1 a ,f$]al ,direct ,,plus ,loan1 or
 a ,f$]al ,direct ,consolidation ,loan  
may elect to modify ! int]e/ rate ( !   
loan to be equal to ! int]e/ rate t w\ld

 be applicable to su* loan if su* loan 7
 fir/ disburs$ 7or 9 ! case ( a ,f$]al  
,direct ,consolidation ,loan1 fir/      
appli$ =7 on ! date on :i* su* borr[]   
elects to modify ! int]e/ rate ( su*    
loan4  7,b7 ,fix$ rate ,except z provid$
 9 subp>agraph 7,c71 an int]e/ rate     
elect$ "u subp>agraph 7,a7 = a loan %all
 be fix$ = ! life ( ! loan4  7,c7       
,cont9u+ au?ority to modify ,a borr[]   
may elect to modify ! int]e/ rate ( a   
loan 9 accordance ) subp>agraph 7,a7 at 
any "t dur+ ! life ( ! loan4  4